Flex Property with Detached
For Sale
$195,000
2121 W College Street, Springfield, MO 65806
GC-zoned property includes a main structure with office and residential configuration, plus a detached two-story building.
Property Size1,660 SF
Price / SF$117.47
Days on Market50
Property Features for 2121 W College Street
General Information
Standard status
Active
Size
1,660 SF
Property subtype
Commercial
Zoning
GC
Site & Location
Neighborhood
Zone 1
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$779
Building Details
Building Size
1,660 SF
Year Built
1917
Buildings
2
Listing Agency:
Vylla Home
(501) 413-9670
Listed By:
Bonni R. Douglas
(417) 225-8182
Source:
Grassmuckrealty
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 27 at 3:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vylla Home
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Investment Insights
Based on property information with market context.
The 1,660 SF main structure has a reception or office layout, a full kitchen, two full restrooms, and a rear flex room with dedicated 220V power. An 800 SF basement provides additional storage. The detached two-story outbuilding has updated siding, paint, and a roof; it was previously finished as an apartment and requires completion. An attached two-car carport includes an overhead garage door concealed behind drywall and ready to reopen. The property also has a new HVAC system extended to the rear flex room, a new water heater, upgraded electrical service, and modern plumbing.
Zoned GC, the property has grandfathered residential use. Its site features a wide double gate, a deep drive lane, and a privacy-fenced rear area. The property is on Route 66 in Springfield, minutes from Downtown Springfield. Buyers should verify permitted uses, rental licensing, and zoning requirements with the City of Springfield.
Zoned GC, the property has grandfathered residential use. Its site features a wide double gate, a deep drive lane, and a privacy-fenced rear area. The property is on Route 66 in Springfield, minutes from Downtown Springfield. Buyers should verify permitted uses, rental licensing, and zoning requirements with the City of Springfield.
Key Highlights
- 1,660 SF main structure with office and residential configuration
- 800 SF basement for storage
- Detached two‑story outbuilding with new roof and updated siding and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,154
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,080
$263.1K
Cap Rate 7%
$187,914
$187.9K
Cap Rate 9%
$146,156
$146.2K
Market Conditions
NOI Build-Up for 1,660 SF
Gross rent
$18.3K $11.04/SF
− Vacancy
−$788 −$0.47/SF
EGI
$17.5K $10.57/SF
− OpEx
−$4.4K −$2.64/SF
NOI
$13.2K $7.92/SF
Area
Springfield, MO
Vacancy
4.30%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,080
Cap Rate 7%
$187,914
Cap Rate 9%
$146,156
Alternative Uses
Best Use
Office B
$187.9K
$164.4K – $219.2K
NOI $13,154 @ 7.0% cap · market cap 6.75%
Second Best
Mixed Use
$177.4K
$155.2K – $207.0K
NOI $12,419 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$250.5K
$219.2K – $292.3K
NOI $17,538 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - GC-zoned property includes a main structure with office and residential configuration, plus a detached two-story building.
Where is this flex space located?
The property is located at 2121 W College Street Springfield, MO.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,660 SF main structure with office and residential configuration; 800 SF basement for storage; Detached two‑story outbuilding with new roof and updated siding and paint
